THE BEST PLACES TO START YOUR STARTUP'S

Building your own business:

In this present era being slapped with losses in our own business is a big failure faced by a lot of youngsters (or) entrepreneurs. So in this blog, I am going to discuss those drawbacks where a lot of people will show their backs and skipping doing their business (or) not willing to be an entrepreneur to take risk and burdens on their hands.

So firstly we need to focus on the basic needs which we need the most to build a foundation for your business:

·     Focus on the money

·     Focus on your planning

·     You need to focus on the potential to make your profile

·     Source of information

·     Team building

·     Customer satisfaction

    Focus on the money:

In building your own business you need to have a vital source called money. Here your ultimate focus is on money so guys you need to divide the money according to your planning and strategy and you need to be very confident on your calculations and you need to bring a lot of sponsors so that you can promote the brand along with your brand. So if you like you can take money from them for promoting their brand. In this way, you can strengthen your company/brand financially and in the market with good branding.

Focus on your planning:

In this “Focus on Planning” there are four important topics where a lot of ous need to focus they are:

·     How much money do you need to start?

·     What are you going to use it for making the product?

·     Where will you find it?

·     How will you pay it back?

In this particular part we need to divide our investment into 3 types they are:

·     Capital Expenditures

·     One-Time start-up Expenses

·     Monthly Operating Expenses

Capital Expenditures:

Here we are again dividing these capital expenditures into 3 types

·     Buildings

·     Vehicles

·     Equipment

For every start-up first, we need to work to build the capital(i.e. the main branch). Which is near to those areas where the product needed raw material is in rich amount. So that it is easy to get the profit’s and then if we can open the branches in many areas’

One time start-up Expenses:

Even here we have many things to do after opening the branches in many areas

·     Rent deposits

·     Signs

·     Beginning Inventory

·     Legal expenses

Here we need to invest the same amount and we need to sponsor for all the local brands and for other events to make the branding for that branch in that area similarly we need to pay the rent deposits, investing (or) sponsoring for other start-up’s and looking the legal expenses of that branch.

Monthly Operating Expenses:

·     Wages

·     Utilities

·     Rents

·     Maintenances

We need to look over the wages to pay for all the workers and all the high paid officers in all branches. We need to look over the utilities that are needed to provide for the making of the final product

And we need to look over the maintenances and rents of the branches so that we will maintain good profits in the market along with the customer satisfaction

Sources of information:

·     Business owners

·     Trade associations

·     Vendors

·     Reasonable assumption based on the response

We need to gather all the information according to the owners of the other business as well for any emergency’s (or) help for building the proper team to work, Whereas the Trade associations we all give the guidelines for building the business. We need proper vendors who are good at selling the product in the market

Team building:

We need to recruit the best team in which each and every person need to be loyal, skilled enough, manage every situation that the company face’s and need to be the good team player

Customer satisfaction:

The customer satisfaction is the most important thing which we need to work. We need to recruit such a good team in which each and every person need to patient and will spontaneously replay for the queries of the customer.